The Globe and Mail reports in its Friday, Dec. 19, edition that after Montage Gold was granted new exploration permits by the Ivory Coast government Cormark Securities analyst Nicolas Dion raised his share target to $10.50 from $9.75 with an unchanged "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $9.13. Mr. Dion says in a note: "These additions further strengthen Montage Gold's pipeline in Cote d'Ivoire. Recall the company recently announced the acquisition of African Gold and its Didievi project, also in Cote d'Ivoire. Once built, Kone will be among the largest and lowest cost gold mines in West Africa. We model an 18-year mine life producing more than 350,000 ounces per year in the first few, and more than 300,000 oz/yr in the first nine at a less than $1,300/oz AISC (mine-level). Montage Gold trades at a very reasonable 0.66 times our NAV at $4,000/oz."